Birch Hill Investment Advisors LLC lowered its holdings in United Technologies Co. (NYSE:UTX) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,225 shares of the conglomerate’s stock after selling 1,270 shares during the period. United Technologies comprises 1.6% of Birch Hill Investment Advisors LLC’s holdings, making the stock its 27th largest position. Birch Hill Investment Advisors LLC’s holdings in United Technologies were worth $18,909,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in United Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. BlackRock Inc. boosted its position in United Technologies by 1.8% in the fourth quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock worth $5,976,695,000 after purchasing an additional 822,595 shares during the last quarter. FMR LLC boosted its position in United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Capital Research Global Investors boosted its position in United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after purchasing an additional 304,989 shares during the last quarter. Finally, Boston Partners boosted its position in United Technologies by 5.3% in the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock worth $634,658,000 after purchasing an additional 274,184 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on UTX shares. Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Goldman Sachs upgraded United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a research note on Saturday, January 20th. Finally, UBS began coverage on United Technologies in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and an average target price of $139.07.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same period in the previous year, the company posted $1.56 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.28%. United Technologies’s payout ratio is 42.11%.
In related news, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.95, for a total transaction of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.
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United Technologies Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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